Sales of existing homes in U.S. surge to 18-month high

U.S. sales of previously owned homes rose more than 6% to an annualized rate of 5.19 million in March, according to the National Association of Realtors. It was the highest level of sales since September 2013 and marked the sharpest acceleration in sales in four years. Homes were on the market an average 52 days before being sold, the shortest period since July.